2023 Q4 Form 10-Q Financial Statement

#000143774923031312 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $14.46M $11.57M
YoY Change 37.83% 3.47%
Cost Of Revenue $6.965M $6.265M
YoY Change 19.69% -6.02%
Gross Profit $7.493M $5.303M
YoY Change 60.42% 17.48%
Gross Profit Margin 51.83% 45.84%
Selling, General & Admin $4.251M $3.933M
YoY Change -9.59% 12.15%
% of Gross Profit 56.73% 74.17%
Research & Development $438.0K $393.0K
YoY Change 23.73% 65.13%
% of Gross Profit 5.85% 7.41%
Depreciation & Amortization $828.0K $813.0K
YoY Change 7.12% -8.14%
% of Gross Profit 11.05% 15.33%
Operating Expenses $5.517M $5.143M
YoY Change -5.35% 7.19%
Operating Profit $1.976M $160.0K
YoY Change -270.64% -156.34%
Interest Expense -$626.0K $734.0K
YoY Change 663.41% -3.04%
% of Operating Profit -31.68% 458.75%
Other Income/Expense, Net $79.00K -$2.106M
YoY Change -1228.57% 652.14%
Pretax Income $1.429M -$1.946M
YoY Change -209.84% 245.04%
Income Tax $10.00K -$15.00K
% Of Pretax Income 0.7%
Net Earnings $1.419M -$1.931M
YoY Change -206.37% 248.56%
Net Earnings / Revenue 9.81% -16.69%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share $0.13 -$0.22
COMMON SHARES
Basic Shares Outstanding 10.41M 7.409M
Diluted Shares Outstanding 8.713M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.910M $8.376M
YoY Change 78.2% 922.71%
Cash & Equivalents $2.910M $8.376M
Short-Term Investments
Other Short-Term Assets $665.0K $960.0K
YoY Change -63.44% -40.67%
Inventory $2.567M $2.306M
Prepaid Expenses
Receivables $12.47M $5.865M
Other Receivables $0.00 $0.00
Total Short-Term Assets $18.61M $17.51M
YoY Change 33.1% 35.19%
LONG-TERM ASSETS
Property, Plant & Equipment $499.0K $513.0K
YoY Change 148.26% 165.8%
Goodwill $26.45M $26.45M
YoY Change 0.0% 1.38%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $112.0K $43.00K
YoY Change 160.47% 126.32%
Total Long-Term Assets $52.17M $52.18M
YoY Change 0.26% 0.81%
TOTAL ASSETS
Total Short-Term Assets $18.61M $17.51M
Total Long-Term Assets $52.17M $52.18M
Total Assets $70.78M $69.69M
YoY Change 7.21% 7.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.876M $3.340M
YoY Change 109.64% 9.87%
Accrued Expenses $3.761M $4.499M
YoY Change -1.75% 48.53%
Deferred Revenue $1.132M $3.507M
YoY Change -7.44%
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $3.690M $4.211M
YoY Change -17.98% 136.97%
Total Short-Term Liabilities $20.20M $19.66M
YoY Change 22.44% 46.34%
LONG-TERM LIABILITIES
Long-Term Debt $9.829M $10.57M
YoY Change -24.81% -20.81%
Other Long-Term Liabilities $176.0K $175.0K
YoY Change -14.15% -98.48%
Total Long-Term Liabilities $10.01M $10.75M
YoY Change -24.65% -56.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.20M $19.66M
Total Long-Term Liabilities $10.01M $10.75M
Total Liabilities $41.95M $42.29M
YoY Change 3.73% 10.38%
SHAREHOLDERS EQUITY
Retained Earnings -$53.35M -$54.77M
YoY Change 5.83% 11.59%
Common Stock $104.0K $104.0K
YoY Change -52.29% -52.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.83M $27.40M
YoY Change
Total Liabilities & Shareholders Equity $70.78M $69.69M
YoY Change 7.21% 7.69%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $1.419M -$1.931M
YoY Change -206.37% 248.56%
Depreciation, Depletion And Amortization $828.0K $813.0K
YoY Change 7.12% -8.14%
Cash From Operating Activities -$3.139M $1.966M
YoY Change -1017.84% -299.19%
INVESTING ACTIVITIES
Capital Expenditures $889.0K $938.0K
YoY Change -26.35% -229.92%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$889.0K -$938.0K
YoY Change -26.35% 29.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.438M 4.085M
YoY Change -185.65% -1409.29%
NET CHANGE
Cash From Operating Activities -3.139M 1.966M
Cash From Investing Activities -889.0K -938.0K
Cash From Financing Activities -1.438M 4.085M
Net Change In Cash -5.466M 5.113M
YoY Change -771.5% -352.99%
FREE CASH FLOW
Cash From Operating Activities -$3.139M $1.966M
Capital Expenditures $889.0K $938.0K
Free Cash Flow -$4.028M $1.028M
YoY Change 365.66% -487.92%

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i><em style="font: inherit;">10.</em> Use of Estimates</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Our significant estimates include: contingent purchase consideration valuation, allowance for credit losses, valuation allowances related to deferred taxes, the fair value of acquired assets and liabilities, the fair value of liabilities reliant upon the appraised fair value of the Company, valuation of stock-based compensation awards and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets and the related amortization methods and periods. Actual results could differ from those estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"></p>
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2021Q4 crex Business Combination Contingent Consideration Billable Devices Online Maximum Share Price
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Operating Lease Payments
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us-gaap Income Taxes Paid Net
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CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2023Q3 us-gaap Amortization Of Intangible Assets
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CY2022Q3 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2023Q3 us-gaap Debt Instrument Carrying Amount
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CY2023Q3 us-gaap Deferred Finance Costs Net
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CY2023Q3 us-gaap Long Term Debt
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CY2023Q3 us-gaap Long Term Debt Current
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CY2023Q3 us-gaap Long Term Debt Noncurrent
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Deferred Finance Costs Net
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CY2022Q4 us-gaap Long Term Debt
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
100000 usd

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